News Corp (ASX:NWS) says the success of its digital strategy and book publishing, as well as the consolidation of Foxtel with FOX SPORTS, helped it grow third quarter revenue by 17 per cent to $US2.46 billion compared to $2.09 billion last year.
Net income for the quarter was $23 million compared to a net loss of $1.1 billion in the prior year, reflecting the absence of the non-cash impairment charges and write-downs of $1.2 billion recognized in the third quarter of fiscal 2018
The results are partially offset by a $90 million negative impact from foreign currency fluctuations and lower print advertising revenues at the News and Information Services segment.
Net income per share available to News Corporation stockholders was $0.02 as compared to a net loss per share of $1.94 in the prior year. Adjusted EPS were $0.04 compared to $0.06 in the prior year.
Shares in News Corp (ASX:NWS) are trading 3.08 per cent higher at $17.09.